Invest Aurora http://investaurora.org Aurora's Economic Development Public/Private Partnership Tue, 05 Jun 2018 15:46:33 +0000 en-US hourly 1 https://i0.wp.com/investaurora.org/wp-content/uploads/2017/12/InvestAuroraLogo2.jpg?fit=32%2C32 Invest Aurora http://investaurora.org 32 32 143639904 Aurora Council Supports Tax Incentives For Asian Shopping Center That Would Be Country’s Largest http://investaurora.org/aurora-council-supports-tax-incentives-for-asian-shopping-center-that-would-be-countrys-largest/ Wed, 28 Feb 2018 20:28:19 +0000 http://investaurora.org/?p=5436 The Aurora City Council has approved resolutions supporting two tax incentives that would pave the way for redevelopment of Yorkshire Plaza on the far East Side.

Aldermen unanimously approved an inducement for a business improvement district — the first in the city’s history — and a potential tax increment financing district on the plaza property.

The inducements are the first step toward the city helping a proposed redevelopment by Daniel Nee to turn Yorkshire Plaza into Pacific Square Center, an Asian-centric shopping center, which officials say would be the largest of its kind in the country.

The inducement resolutions merely allow the city to go forward, and give the developer some assurance the city is interested. They do not commit the city completely to the proposal.

The city also gave another indication of wanting to move forward on the plan, as the Finance Committee this week recommended the next step in the process — hiring a consultant to perform feasibility studies for both the business improvement district and the tax increment financing district.

Finance Committee aldermen recommended hiring Kane, McKenna and Associates Inc. to do the studies. The city has used Kane, McKenna many times before for past TIF district studies.

The recommendation was to pay Kane, McKenna up to $12,500 for the work on the business improvement district, and up to $37,500 for the tax increment district work. The consultants will make sure the property is eligible for both incentives, and also generate numbers to show the council how much it would get out of providing both incentives.

The development is planned in three phases, with only the first phase guaranteed at this point. That phase would see Pacific Square spending at least $14.25 million to improve 365,000 square feet of the center and turn it into an Asian marketplace.

The redevelopment would not only include new retail shops and tenants, but also new facades, modern signs, better access and parking.

City officials have said the development would dovetail perfectly with the city’s plans for the Route 59 corridor, and fit with the changing face of retail up and down the highway.

For that first phase, Pacific Square is asking for the business improvement district. It would allow the city to provide up to $3.3 million during a 10-year period through a special sales tax only collected within the district. The law allows for a special sales tax of as much as 1 percent on sales from within the district.

In addition, city officials are recommending the city provide sales tax sharing up to $4 million or for 10 years, whichever comes first.

A second and third phase would be considered that would cover property at the plaza outside of the current L-shaped retail space that would be redeveloped in the first phase.

For that, the city would contemplate the tax increment financing district. Under a TIF district, the property tax amount collected is essentially frozen at the time the district is created. As property values increase with development, the additional tax dollars are placed into a city fund to help finance improvements in the district..

In the second phase, Pacific Square is considering a $6.3 million investment in improvements that would include demolition of all the buildings in the outlots of the plaza, and construction of a 30,000-square-foot office building.

It is contemplated that the city would provide $2.7 million over about 10 years for this phase.

A third phase would include some $63 million in improvements that would include an apartment building, commercial space and a parking deck.

Neither the third phase nor the second phase are definitely proposed at this time, but the city wants to investigate the potential of the TIF district.

Bringing the consultant in on the heels of the council approving the inducement resolutions shows this redevelopment “is a large priority” for the city, said Martin Lyons, the city’s finance director.

]]>
5436
Aurora Transportation Center Work To Cost Almost Half Million Less Than Expected http://investaurora.org/aurora-transportation-center-work-to-cost-almost-half-million-less-than-expected/ Thu, 22 Feb 2018 20:09:30 +0000 http://investaurora.org/?p=5428 The contract for the enhancement project at the Aurora Transportation Center came in almost half a million dollars less than expected.

Ken Schroth, Aurora’s Public Works director, said the Illinois Department of Transportation awarded a contract last week for about $14.27 million, about $450,000 less than the engineer’s estimate for the project.

The state awarded the contract to Judlau Contracting Inc., a New York-based company with an office in Lisle . Schroth said it is the first time the city would have worked with the company.

Schroth told the City Council this week that the city already has its first construction meeting scheduled with the contractor and the state, which means the project should start in early spring.

The project includes work to make the Aurora Transportation Center on North Broadway more convenient, add more parking, make access to the center and to the Two Brothers Roundhouse complex better, and add parking to the center.

The project includes a 900-foot, curved pedestrian and bicycle bridge that will connect bike trails on the west and east banks of the Fox River, going over a natural island known as Blues Island. The public parking lots on the West Side of the river will become more accessible to the Transportation Center and RiverEdge Park because of the bridge, city officials said.

Part of the project also will add onto the southern portion of RiverEdge Park, creating a southern entrance and a beer concession stand.

The city received an $11.5 million Congestion Mitigation and Air Quality grant from the federal government to put toward the construction, as well as a $2 million grant from the Kane County Forest Preserve District. That means the city will pay less than $1 million toward construction.

But the city did pay a little more than $1 million for engineering the project to WBK Engineering, LLC. It also paid for some right-of-way purchase.

The city also paid to hire HR Green, of Yorkville, for engineering services, in essence to be like a project manager for the work.

See Original Article Here

]]>
5428
‘Trend Setting’ Asian Shopping Center Proposed For Aurora Would Be Largest In U.S., Officials Say http://investaurora.org/trend-setting-asian-shopping-center-proposed-for-aurora-would-be-largest-in-u-s-officials-say/ Tue, 06 Feb 2018 20:04:12 +0000 http://investaurora.org/?p=5424 Aurora officials are looking at a deal with a developer that wants to remodel a plaza on the far East Side into what they say would be the largest Asian-oriented shopping center in the United States.

Pacific Square LLC, is proposing remodeling and redesigning the Yorkshire Shopping Center, on the north side of East New York Street, just west of Route 59, into the Pacific Square Asian Shopping Center.

Yorkshire includes several larger stores, including a Best Buy, but has a lot of vacant, smaller units. Pacific Square would redesign and attract new uses to those buildings, according to Aurora officials.

Aurora officials were set to discuss details of the development this week with the Indian Prairie School District 204 Board. To facilitate the development, the city would propose several incentives, including the potential of an eventual tax increment financing district.

According to a memo from David Dibo, executive director of the Aurora mayor’s Office of Economic Development, to the school board, after effects of the recession and changes in retail spending have caused a well-documented over-supply of retail spaces along retail corridors such as Route 59.

“Against this backdrop, the city has been working with Pacific Square in what we believe is an exciting, timely and extremely creative means not only to address these trends, but to energize a corridor in a manner that can very well be trend setting on a national basis,” Dibo said in the memo.

The city is planning several inducements for the project, Dibo said. One would be establishment of a Business Improvement District, which would allow up to a 1 percent sales tax to be placed on purchases there. The city would also plan a sales tax sharing agreement with the developer. The city would rebate a portion of the sales taxes up to a specific point.

City officials also have had discussions about a tax increment financing district with Pacific Square, although Dibo said it would not include the about 365,000 square feet of existing retail space.

He referred to is as “a place holder” for a possible second or third phase of the project which could include new office and retail uses.

Dibo said there are no detailed plans yet, so the economics of potential uses are not known. He estimated the amount of the total inducements from the city would be about $15 million.

According to some ideas floated in the material provided the school board, the new center could include a supermarket and food court, dining and entertainment spots, green space and a garden, educational and beauty and spa type of uses.

See Original Article Here

]]>
5424
Paramount Theatre Gets $2.5 Million For 3 Ambitious Downtown Development Projects http://investaurora.org/paramount-theatre-gets-2-5-million-for-3-ambitious-downtown-development-projects/ Tue, 30 Jan 2018 19:52:11 +0000 http://investaurora.org/?p=5416 Aurora’s Paramount Theatre has been awarded its largest grant ever — a $2.5 million donation from the Dunham Fund that will help create a new school for the performing arts, replace every seat in the Paramount Theatre and modernize the Copley Theatre, Paramount’s 173-seat sister stage.

The so-named “Act 2” upgrade is a $4.5 million capital campaign and in total represents one of the biggest downtown development investments in Aurora history.

Former Aurora Mayor Thomas J. Weisner, chair of the Paramount’s Act 2 Capital Campaign, said during a Thursday (Jan. 25, 2018) press conference at Aurora’s North Island Center that the economic investment piggybacks on the Paramount’s recent successes, including award-winning Broadway shows that have brought thousands of people to downtown Aurora and filled the city’s restaurants and businesses.

“Dunham’s incredible support has been a key to the revitalization of the Paramount Theatre, helping spur its growth in just six years to capture the third largest subscriber base in the entire nation,” Weisner said.

Officials said the $4.5 million goal of the Act 2 Capital Campaign will support three major areas of expansion and improvement:

(1) Creation of the new Paramount School of Performing Arts in downtown Aurora in the new John C. Dunham Aurora Arts Center, currently under construction at the intersection of Galena Boulevard and Stolp Avenue, directly adjacent to the Paramount.

Slated to open in January 2019, the Paramount School of Performing Arts will encourage and train young actors, dancers and musicians for a culture-filled life, nurture the arts in Chicago’s western suburbs and add to the excitement, cultural and economic activity in Aurora’s downtown business district.

(2) The replacement of every Paramount Theatre seat through a dollar-for-dollar matching grant.

All 1,888 original seats have served more than 8 million visitors since the Paramount Theatre opened in 1931. Already through this campaign, Paramount patrons have donated funds for the replacement of more than 400 seats. Installation of the seats will begin this summer, and audiences can look forward to all new, larger and more comfortable seats thanks to the Dunham Fund’s matching grant.

(3) Modernization of the Paramount’s 173-seat sister stage, the Copley Theatre, located in North Island Center directly across the street from the Paramount.

Act 2 Capital Campaign funds will support much-needed upgrades and improvements in the Copley, built in 1981, including replacement of carpeting and seats, updating technical equipment, expanded restrooms, new heating and air conditioning systems and remodeled backstage and dressing areas. These improvements will boost cultural and economic activity even further in downtown Aurora, making the space suitable for smaller shows, as well as a debut venue for a new works program at the Paramount.

Weisner said support from the Dunham Fund will take both the Paramount and Aurora’s downtown to the next level.

“Adding a school of performing arts to our community will have an incredibly positive impact on Aurora area children and families for generations to come,” he said.

Wendy Hirsch, chairperson of the Dunham Fund, said every project the organization supports is worthy and deserving.

“However, there is no other organization that has impacted more people in Aurora than the Paramount Theatre,” she said. “The Dunham Fund is extremely proud to support the Paramount’s capital campaign with this ‘lead gift.’”

Aurora Mayor Richard C. Irvin said that, since the launch of Paramount’s self-produced Broadway Series in 2011, the number of patrons has grown from 52,000 to more than 320,000 annually.

“Clearly, under the strong leadership of President and CEO Tim Rater, the Paramount is attracting more people to Aurora, and the theater continues to be both a critical cultural asset and a catalyst for growth and revitalization,” he said. “The Paramount School of Performing Arts will provide new opportunities for Aurora’s youth. It will encourage and train actors, dancers and musicians for a culture-filled life, further nurture the arts in our community and add excitement and vibrancy to our re-emerging downtown.”

View of the Future

Renderings of Paramount School of Performing Arts parent lounges and reception desk by Vara Design. (CREDIT: Paramount Theatre)

Construction of the new Paramount School of Performing Arts is already well underway inside the historic former Waubonsee Community College building, directly adjacent to the Paramount Theatre.

The new performing arts school will be the anchor tenant in the John C. Dunham Aurora Arts Center, revealed Thursday as the official name of the new $35 million, 80,000-square foot mixed-use development that will also bring a higher end restaurant to downtown Aurora, along with 38 affordable, loft-style apartments for working artists.

When complete, Aurora’s downtown will be able to boast of a live performing arts and education complex that fills a full city block, serves as an exciting new destination for arts and culture and powers the continued economic revitalization of Aurora’s downtown business district.

The apartments and restaurant will debut in the fall, meaning Paramount patrons can look forward to a convenient, upscale new location for pre- or post-show fine dining by the launch of the 2018-19 theater season. Bids are now being considered from top Chicago restaurant groups interested in managing the new restaurant space. Expect further details about the restaurant by summer.

The new Paramount School of Performing Arts will open registration in the fall and begin running a full roster of classes, private lessons and camps in acting, music and dance starting in early 2019. Courses for children as young as six months will be offered with opportunities for adults and seniors, as well. The school is committed to being accessible and affordable to all students, including persons with special needs and from low-income families.

Currently, construction crews are reconverting the basement and first floor to house more than 23,000-square-feet of private and group classroom space, parent lounges, a keyboard lab, a music recording studio and a 1,400-square-foot sprung floor dance studio.

About the Dunham Fund

In recent years, the Paramount Theatre has proven to be a catalyst for economic growth in Aurora’s downtown. The ripple effect has been profound: thousands of people have enjoyed award-winning Broadway shows in a landmark setting, and those patrons have filled the city’s restaurants and businesses. The Dunham Fund is proud to provide a $2.5 million grant for the support of the John C. Dunham Aurora Arts Center. The center will be the next step in the Paramount’s efforts to catapult Aurora to be the absolute best it can be.

John C. Dunham established the Dunham Fund in 1996. Dunham’s dream was to “make the world a more comfortable, safer place for mankind to live and prosper.” Since his passing in 2017, the Dunham Fund’s board continues to honor his life and tremendous philanthropic spirit through grants to Aurora-area organizations. His legacy lives on through the Dunham Fund, which today is the largest private foundation in the Aurora area. For more information, visit dunhamfund.org.

About the Paramount Theatre

Tim Rater and Jim Corti (CREDIT: Paramount)

The Paramount Theatre (ParamountAurora.com), 23 E. Galena Blvd. in the heart of downtown Aurora, is the center for performing arts, entertainment and arts education in the second largest city in Illinois. The 1,888-seat Paramount Theatre is nationally renowned for the quality and caliber of its presentations, historic beauty and superb acoustics.

Designed by renowned theater architects C.W. and George L. Rapp, the Paramount Theatre is graced with a beautiful Venetian decor and a strong 1930s Art Deco influence.

In just six blockbuster seasons since, Paramount has leapt to the top of Chicago’s musical theater scene, winning unanimous audience and critical acclaim, and an unprecedented number of Joseph Jefferson nominations and awards, including Best Musical-Large for the past three consecutive seasons. Today, more than 36,000 subscribers from throughout the city and suburbs enjoy Paramount’s Broadway-quality productions at highly affordable prices, making the Paramount the third largest subscription house in the nation.

See Original Article Here

]]>
5416
Buddig To Take Over Vacant Butterball Plant in Montgomery, Bringing Estimated 250 Jobs http://investaurora.org/buddig-to-take-over-vacant-butterball-plant-in-montgomery-bringing-estimated-250-jobs/ Tue, 23 Jan 2018 19:31:30 +0000 http://investaurora.org/?p=5412 Carl Buddig meat company has announced it will purchase the vacant Butterball facility in Montgomery, bringing 250 new jobs to the village.

The 280,000-square-foot former Butterball processing plant closed nearly a year ago.

“We have a very solid manufacturing core as well as a strong workforce here in the village of Montgomery,” said Village President Matt Brolley. “The plant has always been used for meat processing, which makes it an ideal facility for Buddig.”

Buddig CEO Bob Buddig said the company is looking to start production in Montgomery in the spring. The plant will be used for lunch meat and specialty meat production.

Officials say the new operation will employ some 250 people this year and 350 workers by the fifth year of operation.

There was a competition going on with Indiana, with both states vying for the project.

“Any time an Illinois manufacturer is able to expand, especially within our borders, it is a case for celebration,” said Mark Denzler, with the Illinois Manufacturers Association.

The state has approved $3.9 million over a period of 10 years in EDGE tax incentives — officially known as the Economic Development for a Growing Economy program — if Buddig fulfills benchmarks for job creation and capital investment, according to the Illinois Department of Commerce and Economic Opportunity.

The tax breaks helped in choosing Illinois over Indiana, where Buddig has a distribution center, Buddig said. But the primary reasons for picking Montgomery were timing and opportunity, he said.

Montgomery officials have been working on the project since the closing of the Butterball facility last July.

Montgomery Village Administrator Jeff Zoephel and village officials had “direct contact with representatives from Buddig as they were making their decision.”

Zoephel said he and his staff are available to help company officials with any assistance they may need. He said the village has already discussed the hiring process with the company and have offered space at Village Hall to conduct interviews.

“This is a great day for the village of Montgomery,” said state Rep. Keith Wheeler (R-Oswego). “An investment of this magnitude will offer not only relief for this resilient community, but tremendous opportunity in the years to come.”

Read Original Article Here

]]>
5412
New Restaurant To Open In Downtown Aurora http://investaurora.org/new-restaurant-to-open-in-downtown-aurora/ Thu, 14 Dec 2017 19:23:22 +0000 http://investaurora.org/?p=5405 A new bar and restaurant could open as early as March at 24 S. Broadway in downtown Aurora.

Aldermen on the City Council’s Government Operations Committee this week recommended a liquor license for Mark Hogan, the owner of Tavern on Broadway, who said he hopes to be open by late March.

The license would be an E-1 category, which allows a restaurant to serve liquor by the drink with its meal service, and also to have a limited late-night menu.

It’s located in the former Tavern on the Fox location. Proponents of downtown, as well as merchants and city officials, have been trying to get something in that spot on the west side of Broadway, just a few doors from New York Street, since Tavern on the Fox closed.

Almost a year ago, aldermen approved a liquor license for Tavern 25, which was to open a bar-restaurant in the same building, with renovated apartments in the second floor of the building. But that project fell apart due to rising costs and lack of funding.

Hogan said he has held liquor licenses in five Illinois communities, including Urbana, South Elgin and Batavia. He currently owns the Wilson Street Tavern in downtown Batavia.

The establishment would have 12 bar stools and 52 seats at tables, he said.

“We plan on having more than just standard bar food,” Hogan said. “We’ll have some interesting salads, homemade soups.”

See Original Article Here

]]>
5405
Aurora’s New Arts Center “Going to be Making Some Noise” http://investaurora.org/auroras-new-arts-center-going-to-be-making-some-noise/ Wed, 13 Dec 2017 19:33:41 +0000 http://investaurora.org/?p=5271 Walk into the building at the corner of Galena Boulevard and Stolp Avenue in downtown Aurora and you will see a cavernous area, filled with demolition equipment, hard hats, construction dust and plenty of cold steel poles. That’s what remains of the many walls that once formed classrooms in this old Waubonsee Community College campus.

Take a tour of these three floors, now under renovation, with Paramount Theatre President Tim Rater and Shannon Cameron, who recently was hired as director of education and community engagement at the Paramount, and one will begin to envision the future of Aurora.

Over the next year this 80,000-square-foot building, purchased for $350,000 by Invest Aurora, the nonprofit development arm of the city, is being transformed into the $35 million Aurora Arts Centre. It will include an art gallery, fine dining restaurant, dozens of apartments for working artists, a rehearsal space for Paramount performers and perhaps most important, a 25,000-square-foot performing arts school that if all goes as planned will bring thousands of people to downtown Aurora, particularly young families, on a regular basis.

With Rater, the mastermind of the phenomenally successful Paramount Theatre, at the helm of much of this project — he will oversee the commercial end — it’s easy to see the possibilities, even before the construction dust has settled.

Perhaps most exciting to those of us clamoring for more downtown dining options, a huge chunk of that first floor — in the corner facing Stolp and Galena — will become a 4,000-square-foot fine dining restaurant that according to Rater just went on the market Monday but already has attracted plenty of “interested parties.”

Also on that first floor will be 8,000 square feet of much-needed rehearsal space for Paramount performers (Copley Theater was workable but far too small), as well as four guest apartments for those out-of-town stars performing at the Paramount. Another 38 apartments on the third floor will offer affordable housing to artists who qualify.

And, coming off Stolp will be a 1,000-square-foot storefront gallery. Farther south on that same street will be the entrance to the lobby of what so far is being called The Paramount School of Performing Arts.

In addition to a lobby and lounge area, the first floor of the school will feature a seated balcony, where parents can watch their children perform in the lower level on a 2,200-square-foot flexible performance area that also contains retractable seating.

“We are,” she said, “going to be making some noise.”

And, no doubt, lots of synergy.

Rater oversaw a similar school in Arlington Heights before joining the Paramount, which he said brought in a couple of thousand people a day. This Aurora project, however, is four times that size, so it’s not hard to imagine how that kind of traffic can be a game-changer for this city.

Cameron, who has been meeting with dozens of community leaders since she arrived here from Lincoln, Neb., during the summer, plans to hire only top-tier teachers for the school that will offer classes, private lessons and camps in acting, music, comedy and dance.

At the same time, the school is committed to being accessible and affordable to all students who are interested in the arts, she said, including those with disabilities and from low-income families.

Classes for children as young as 6 months will be offered, but there also will be opportunities for adults of all ages, even seniors, Cameron said.

The goal is to have the restaurant and apartments open by fall 2018, with classes at the school to begin in January 2019 — all part of the vision Rater came with when he arrived seven years ago.

The Paramount’s current production “Elf the Musical” on Monday passed “The Little Mermaid” as its highest-grossing production, he told me. And Rater seemed just as proud that on Classic Movie Monday at the downtown theater, “White Christmas” had a surprising 1,300 people in attendance, another record number.

“We have all the momentum in the world,” he said. “It’s working because people want to be here.”

See Original Article Here

]]>
5271
Downtown Aurora Virtual Tour http://investaurora.org/downtown-aurora-project-tour/ Mon, 11 Dec 2017 14:36:40 +0000 http://investaurora.org/?p=5003 Check out recent and upcoming projects in the downtown here!

]]>
5003
Rehab Begins on Aurora Property http://investaurora.org/rehab-begins-on-aurora-property/ Mon, 04 Dec 2017 16:45:38 +0000 http://investaurora.org/?p=5239

Construction has started to rehab a building at 55. S. Lake St. in Aurora.Construction of a downtown Aurora building is underway. Invest Aurora, the city’s economic development arm, has found a developer for the property at 55 S. Lake St.

After issuing an RFP, Invest Aurora awarded the property to the owner of the adjoining property to the north, formally 55 South Lake Street LLC.

The property was formerly a mattress company but after years of neglect the building was in a state a disrepair. The completed renovation will feature a total of six commercial units.

Building improvements will include a new facade, tuck-pointing, new second story windows, additional interior and exterior stairs and a private parking lot adjacent to the building. The revamped property will feature high ceilings, ample open space, and a garage door.

The developer believes that once completed the property will be ideal for artists’ studio space. David Hulseberg, Invest Aurora CEO and president, is excited about not only cleaning up the building but also putting in viable businesses and providing additional space for local artists to create their masterpieces. The developer has also agreed to make upgrades to his neighboring property at 47 S. Lake St.

This project was made possible by the John C. Dunham Revolving Loan Fund which is administered by Invest Aurora. The program is aimed at assisting property owners in the downtown. Loans are issued from a pool of over $1.2 million to finance eligible property rehabilitation for projects that are not commercially bankable.

The total costs of the project at 55 South Lake St. amounts to $250,000. Invest Aurora has agree to finance $200,000 via the loan program. This is the third property in downtown Aurora to benefit from the loan fund.

Earlier this year Invest Aurora utilized the program to jump-start a mixed-use project at 30 N. Broadway and co-working space/business incubator at 56 S LaSalle.

]]>
5239
Aurora Plans Deals That Could Encourage Downtown Business http://investaurora.org/5228-2/ Thu, 30 Nov 2017 15:46:47 +0000 http://investaurora.org/?p=5228 The Finance Committee of the Aurora City Council Tuesday recommended eight transactions involving downtown property that include private business, the city and its not-for-profit development arm, Invest Aurora.

“I really appreciate what you’re doing here,” said Ald. Ted Mesiacos, 3rd Ward, a Finance Committee member, to David Huselberg, Invest Aurora director. “A lot of this is in response to concerns from the City Council, and you’re trying to revitalize the downtown business community.”

The proposed transactions involve five properties along Broadway, and many of them involve current businesses or future ones looking to open.

They include:

• The city spending $107,000 to buy a small building at 7 S. Broadway. The current owner, Gary Brown, would rent the building for $10 a month, and also would pay taxes and the special service area payments. He owns an art gallery and workshop in the building, and would continue to do so.

Hulseberg said the city is in the midst of acquiring all the buildings in the block bounded by Broadway, Downer Place, Galena Boulevard and the Fox River.

• The city buying property at 15 to 17 S. Broadway for $285,000 with the intention of eventually releasing it to a restaurant. Hulseberg said there is no prospective restaurant at the moment, but the city can market the building once it owns it. It includes a basement that can be used as a banquet hall.

The property has been the subject of an eviction battle in court for some time, Hulseberg said.

• The city bringing Aurora Botanicals, a business that sells garden plants, decorations, gourmet food baskets and candy, to a building the city already owns at 13 S. Broadway. Aurora Botanicals has been a regular at city markets, and is now opening a retail store.

The city would rent the building to the company for $10, and the company would pay to renovate the space. As the two previous buildings, it is in the block the city is trying to control, so all the leases have a year’s notice for the tenants to leave, if the city gets a large, single developer for the whole block.

• Sale of a vacant lot next to the building at 66 to 74 S. Broadway to Elemy, LLC, owners of that building. They could develop a parking lot on the space to complement the about $1.5 million redevelopment of the building they are doing. It eventually will include studios for things like yoga, residences and meeting rooms.

“We think this is advantageous to the property owner,” Hulseberg said.

• The city leasing a small part of an existing parking lot to Fifth Third Bank on the southwest corner of Downer and Broadway. Hulseberg said the lease would actually allow both the city and the bank to reconfigure the lot to pick up more spaces.

• The city spending $80,000 to buy a three-story building at 110 S. LaSalle St. and tear it down, adding to the parking lot the city already owns next door. It also would spend about $22,000 to buy a vacant lot next to the building, at 120 S. LaSalle St., to also add to the city lot.

• The city selling a small, 1,400-square-foot piece of right-of-way on the eastern edge of the historic Aurora Silverplate Building at Downer Place and Stolp Avenue to the owners of the historic building.

The sale would allow Michael and Esther Saltijeral, building owners, access to the basement of the Silverplate building to enhance the development plans they have for the building. They intend to put an ice cream shop in the first floor, and a speakeasy-type of lounge in the basement. The right-of-way sale would allow them access to a door that goes to the basement, and they also could put in outdoor dining at the site, Hulseberg said.

The development also would include two apartments on the second floor and a loft-style apartment on the third floor.

“This will be a million-dollar project,” Hulseberg said.

“It’s exciting to see something happening on this corner,” added Mesiacos.

See Original Article Here

]]>
5228